Bank of New York Mellon Corp Sells 18,001 Shares of Gaming and Leisure Properties, Inc. $GLPI

Bank of New York Mellon Corp reduced its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,967,667 shares of the real estate investment trust’s stock after selling 18,001 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.05% of Gaming and Leisure Properties worth $138,323,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management raised its holdings in shares of Gaming and Leisure Properties by 62.3% in the 3rd quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 238 shares during the period. REAP Financial Group LLC increased its position in Gaming and Leisure Properties by 66.0% in the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 264 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Gaming and Leisure Properties by 89.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 309 shares during the period. Quent Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the 3rd quarter valued at $31,000. Finally, Bayforest Capital Ltd lifted its position in shares of Gaming and Leisure Properties by 412.1% during the 3rd quarter. Bayforest Capital Ltd now owns 676 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 544 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLPI. Mizuho set a $50.00 price objective on Gaming and Leisure Properties and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Cantor Fitzgerald lowered their price target on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Barclays dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Morgan Stanley lifted their price objective on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 24th. Finally, UBS Group reissued a “buy” rating on shares of Gaming and Leisure Properties in a report on Thursday, January 8th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.89.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $44.75 on Friday. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $52.24. The company has a fifty day moving average of $44.36 and a 200-day moving average of $45.49. The company has a market capitalization of $12.66 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.51 and a beta of 0.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 13.23 and a current ratio of 13.23.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $397.61 million for the quarter, compared to analysts’ expectations of $399.66 million. Gaming and Leisure Properties had a return on equity of 16.34% and a net margin of 49.54%.Gaming and Leisure Properties’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. As a group, equities research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.78 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.12 annualized dividend and a dividend yield of 7.0%. Gaming and Leisure Properties’s payout ratio is currently 113.04%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 13,409 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $45.04, for a total value of $603,941.36. Following the transaction, the senior vice president directly owned 57,886 shares of the company’s stock, valued at $2,607,185.44. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Scott Urdang sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $45.49, for a total transaction of $181,960.00. Following the completion of the sale, the director directly owned 129,953 shares in the company, valued at approximately $5,911,561.97. This trade represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 40,864 shares of company stock valued at $1,832,866. 4.26% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.